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Mahindra Lifespaces announces continuing partnership with Sumitomo Corporation for its Industrial Clusters business
Mumbai, November 22, 2024 – Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development arm of the Mahindra Group, through its subsidiary Mahindra World City Developers Limited (MWCDL), has announced the second phase of their Industrial Parks project in Tamil Nadu under the brand “Origins by Mahindra,” in partnership with Sumitomo Corporation, Japan. This expansion marks a significant step in enhancing industrial growth in the region.
The Joint Venture Agreement originally signed in 2015, with Sumitomo Corporation was further strengthened today through a Supplemental Agreement which involves an investment of approximately ₹225 crores by MWCDL and Sumitomo Corporation, Japan in Mahindra Industrial Park Chennai Limited (MIPCL), in proportion of their existing shareholding. This new phase will also focus on the acquisition and development of land and associated infrastructure to establish an advanced industrial ecosystem.
Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said “At Mahindra Lifespaces, we take pride in developing industrial clusters and integrated cities that drive economic growth and support businesses. The partnership with Sumitomo Corporation, reflects our commitment to fostering progress and enabling industries to thrive sustainably.”
MIPCL which currently spans over 307 acres, already hosts global and domestic companies that have set up their industrial facilities. Its objective is to play a pivotal role in supporting the region’s industrial and economic growth and offer world-class infrastructure to businesses.
About Mahindra Lifespace Developers Ltd.
Mahindra Lifespace Developers Limited (“MLDL”) is a pan-India real estate developer. It operates its business through two verticals, namely, (i) residential projects, under the ‘Mahindra Lifespaces’ and ‘Mahindra Happinest’ brands (“Residential”); and (ii) integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands, respectively (“IC&IC”). MLDL has also been delivering green-certified homes by Indian Green Building Council (“IGBC”), embedding sustainability as a core principle across all its developments. MLDL projects integrate energy-efficient designs, environmentally responsible materials, and resource optimization measures to reduce carbon impact. Reinforcing this commitment, MLDL has launched three Net Zero projects, namely, Mahindra Eden, Mahindra Vista and Mahindra Zen. Learn more about Mahindra Lifespaces® at www.mahindralifespaces.com
About Mahindra
Mahindra Group, has a global presence across diverse business verticals, including automotive, farm equipment, technology, financial services, real estate, hospitality, logistics, renewable energy, and aerospace and defense. Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to Mahindra News Room https://www.mahindra.com/news-room
